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ATLAS Declaring BK?

Old 08-20-2019, 12:24 PM
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Default ATLAS Declaring BK?

We have nearly dozen planes parked.

Stock price is down over 50%

Company refusing to negotiate with pilot group.

Exec MGMT all have parachutes and retention bonuses. Carrying a ton of debt.

No new hire classes this year.

We just signed a TA on DH travel that was industry leading. The reason- we will never see it anyway.

The Company is going to file BK gut the contract, trim the fat.

Furloughs start Jan 1.

Last edited by rickair7777; 08-21-2019 at 08:11 AM. Reason: Title Clarity
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Old 08-20-2019, 12:27 PM
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Hmmm. Interesting. We’ll see how 4th quarter goes.
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Old 08-20-2019, 12:35 PM
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Hi Mom!

(just wanted to get in on the first page of this train wreck)
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Old 08-20-2019, 01:51 PM
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Originally Posted by boeingdvr View Post

The Company is going to file BK gut the contract, trim the fat.

Furloughs start Jan 1.
ALL of the fat in this outfit is at and above the VP level. That rarified air is occupied by the most greedy heartless and incompetent people in the industry.
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Old 08-20-2019, 02:33 PM
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You just cant declare BK when you want to. CEO's go to jail for that.
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Old 08-20-2019, 02:35 PM
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Originally Posted by Whaledriver101 View Post
You just cant declare BK when you want to. CEO's go to jail for that.
Got a name? Company? Court case?
That’s cool if true
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Old 08-20-2019, 02:35 PM
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Originally Posted by iPilot View Post
Hi Mom!

(just wanted to get in on the first page of this train wreck)
I'm setting the Over/Under at 50 pages on this one...
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Old 08-20-2019, 02:45 PM
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Sad to say, but when I head about the DH TA, my first thought was it's too good to be true. There is no way they ever plan on making good on it.

This place is a train wreck.
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Old 08-20-2019, 02:50 PM
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Originally Posted by As Briefed View Post
Got a name? Company? Court case?
That’s cool if true
https://www.chicagotribune.com/busin...418-story.html

Here’s one example of a CEO that stripped a company and tried to profit from the failure going to court. It isn’t criminal court, but at least there’s some repercussions.
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Old 08-20-2019, 04:28 PM
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https://finance.yahoo.com/news/atlas-air-worldwide-holdings-nasdaq-145658525.html

Help us. We’re poor.
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